Pros and Cons of a Trading Job
Do a random check among your family and friends’ circle. You will find at least one Engineer, one Doctor, one Research Scientist, and probably even a teacher/lecturer but how many of you have a trader among your inner circle? There might be a few who knows someone who has taken up a trading job for a living but the number is limited to a few. Why is this so?
There are many advantages of taking up trading for a living that you might not be aware. However, there are certain disadvantages too. Continue reading to know about the benefits and drawbacks of being a full-time trader. This will probably help you weigh your options and help you decide if you want to join the squad as well.
First the positives:
- You get to don the hat of a boss. While making a career in trading, you do not have to work as per the wimps of another person. You get to make your decisions without having to nod your head hesitantly to someone else’s choice of decisions or unreasonable demands. You get to make your own rules and work in the manner that you are comfortable.
- You get to choose your working hours and it could be mornings, evenings, or even late nights. There is no one to question you about your timings because the best thing about trading is that the stock market is always open and these days investors are even allowed to trade during the weekends, which makes the whole job profile look even more attractive. Moreover, you can choose how long you want to work on a given day or probably not even work an entire day. It is all up to you.
- You do not have to incur any additional overhead expenses. For instance, you do not have to incur travel expenses, wardrobe expenses, or any other such additional costs because being a trader gives you the flexibility to work from home and all you need is to have access to the computer, the internet, and some basic funds to get going.
- Lastly, you enjoy all sorts of comforts including choosing your workspace, the clothes you wear, the food you eat, your tea/lunch breaks, etc. You do not have live by the second or let an office clock dictate your work.
Now for the negatives – Like every other job, trading jobs also come with certain disadvantages.
- You mostly lead a solitary working lifestyle. You do not really have colleagues to discuss work or fun stuff. It is you and you alone. However, if working alone suits you and you have your own social circle, then this should not be a problem.
- You do not have a fixed take home salary or paid leaves. The profits earned vary from day to day and hence your salary is inconsistent. Moreover, you get to choose your holidays. It could be more or could be never. However, today many people are opting for offbeat jobs that do not necessarily pay them a fixed salary and yet they are happy with the earnings and work hours. Therefore, as long as you earn good profits most of the time, then you are good to go.
- In addition, you do not get to progress in your career. You can increase your earnings but that will not make give you any titles. Hence, if titles are not your thing, then worry not.